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The Commissioner of Income Tax Vs. Chemplast Sanmar Limited

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 50, 90, 90A, 115JA(1), 115JAA, 115JAA(4), 115JAA(5), 115JB, 139(1), 140A, 143(1), 208, 209, 210, 234A, 234B, 234B(1), 234B(2), 234C, 234C(1), 295 and 295(2); Finance Act, 2006; General Clauses Act, 1897 - Sections 20; Land Reforms Act; Income Tax (19th Amendment) Rules, 2001; Income Tax Rules, 1962 - Rules 5 and 12(1)

Reported in : (2009)224CTR(Mad)211; [2009]314ITR231(Mad); [2009]180TAXMAN335(Mad)

Matched in: Advocate Pushya Sitaraman, Sr. Standing Counsel assisted by J. Narayanasamy, Adv. Venkatnarayanan, Adv. in T.C. Nos. 887/04, 2246, 2277, 2323, 2606, 2615 and 2656 of 2006, 10, 410, 717 and 1006 to 1008 of 2007 and 81 to 84, 245, 356, 543 and 578 of 2008, ;N. Quadin Hoseyn, Adv. in

Commissioner of Income Tax Vs. Jindal Exports Ltd. and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(1), 2(43), 16(3), 24(2), 90, 90A, 91, 115J, 115JA, 115JA(1), 115JAA, 115JAA(1), 115JAA(2), 115JAA(4), 115JAA(5), 119, 139, 140A, 140A(1), 142, 143, 143(1), 144, 147, 148, 154, 155, 158BC, 207, 208, 209, 209(1), 210, 215(2), 234A, 234B, 234B(1), 234B(2), 234C, 234C(1), 245D(4), 245D(6), 250, 254, 260, 262, 263 and 264; Finance Act, 2006; Direct Tax Laws (Amendment) Act, 1987; Finance Act, 1997; Finance (No. 2) Act, 1996

Reported in : (2009)221CTR(Del)8; [2009]314ITR137(Delhi); [2009]179TAXMAN391(Delhi)

Section 234C(1) of the IT Act, 1961 (hereinafter referred to as 'the said Act') by virtue of the Finance Act, 2006, w.e.f. 1st April, 2007. According to the learned Counsel for the appellant/Revenue, after the said amendments, there is … the AO under Section 154 of the IT Act, 1961 as the issue regarding charging of interest under Section 234B of the Act without giving set off of MAT credit available to the assessee was highly debatable ?Question

The Commissioner of Income Tax Vs. Synthite Industrial Chemicals Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act - Sections 115JAA, 140A, 234A, 234B, 234C and 263; ;Finance Act, 2006

Ltd. : (2009) 314 I.T.R. 231, which are rendered based on later amendment introduced to Section 234B by Finance Act 2006 with effect from 1.4.2007. It is seen that corresponding amendment is made to Section 234A also, so that

Dit-i, International Taxation Vs. Alcatel Lucent Usa, Inc.

Court : Delhi

Subject : Direct Taxation

case. He pointed out that under the aforesaid Explanation, as it stood both before being amended by the Finance Act, 2006 w. e. f. 01.04.2007 and thereafter, only the tax actually deducted at source is permitted to be deducted … Tribunal fell into error in holding that the assessee was not liable to pay interest in terms of Section 234B of the Income Tax Act?." 3. ITA No.327 of 2012 was taken as the lead matter by consent.

Joint Commissioner of Income-Tax Vs. Sumit Industries Ltd.

Court : Gujarat

Subject : Direct Taxation

where such shortfall is on account of increase in the rate of surcharge under section 2 of the Finance Act, 2000 (10 of 2000), as amended by the Taxation Laws (Amendment) Act, 2000 (1 of 2000), and the … K.J. Thaker, J. 1. The Tax Appeal No.676 of 2006 u/s.260A of the Income-tax Act, 1961 is filed against the judgment and … Acts providing for payment of advance tax under Sections 115JA and 115JB. So far as interest leviable under Section 234B is concerned, the section is clear that it applies to all companies. The prerequisite condition for applicability of

Sri Satyapal Wassan L/H Sri Naresh Vs. the A.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Jabalpur

Subject : Direct Taxation

such notice within 12 months, the assessment will not be declared invalid. This amendment was introduced by the Finance Act, 2006 with retrospective effect from 1.10.1991. Even otherwise, our view that assessment cannot be annulled merely because notice under … of ld. CIT (A). These ground of appeal is therefore, dismissed.78. Ground No. 4 is about interest under Section 234B and 234C. We have held in assessment year 1990-91 that the charging of interest is mandatory and consequential.

Director of Income Tax Vs. Ericsson A.B.,new Delhi

Court : Delhi

Subject : Direct Taxation

by him on 28th March, 2000 was also invalid. However, subsequent to this decision of the Tribunal, by Finance Act, 2006, the Legislature has added proviso in Section 142 (i) of the Act. The effect thereof is that an … India?.2. Whether in law, the Ld. Delhi Tribunal was justified in deleting the levy of interest charged under Section 234B of the Income Tax Act, 1961?".13. We may first deal with the two incidental issues before coming to

Wipro Limited Vs. The Joint Commissioner Of Income Tax

Court : Karnataka

Subject : Direct Taxation

prescribed since that was covered by Section 153(6); however, a significant change was brought in by amendment vide Finance Act, 2016 that contemplates two scenarios viz., (i) making of fresh assessment orders pursuant to appellate orders that have … the converse situation where he is liable to pay interest for delayed payment of taxes in terms of section 234B; it may be pertinent to note that it was inserted and brought into effect from the same time

The Commissioner of Income Tax and Vs. Brindavan Beverages Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(14), 2(19AA), 2(42C), 41[2], 45, 48, 50B, 80IA(4), 80IB(4), 80IB(5), 80HHC, 80HHC(3), 80HHC(3A), 80HHC(4), 80HHC(4A), 115A, 115B, 115BB, 115C, 115J, 115JA, 115JA[1], 115JA[2], 115JA[4], 115JB, 143(2), 161[1A], 164, 164A, 207, 208, 209, 209[1], 210, 211, 215, 234, 234A, 234B, 234C, 234G, 254(2) and 260A; Finance [No. 2] Act, 1996; Finance Act, 1997; Finance Act, 1998; Finance Act, 1999; Finance Act, 2000 - Sections 2; Companies Act, 1956 - Sections 210; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 3(1) and 17(1); Constitution of India - Article 141

Reported in : (2010)228CTR(Kar)1; [2010]186TAXMAN233(Kar)

in reference to the provisions of Section 115JA of the Act is conspicuously absent in Part-III of the Finance Act providing for computing advance tax though mention is made of Sections 115A, 115B, 115BB, 115C of the Act … in the case of Commissioner of Income Tax v. Electric Control Gear 2006 ITR 1 (Bom), the decision of this Court in Syndicate Bank Ltd … the Tribunal has been wrongly decided by the Tribunal.Whether the Tribunal was correct in holding that interest under Section 234B of the Act cannot be levied against the assessee as the computation of income has been made under

Director Of I.t New Delhi Vs. M/s Mitsubhishi Corp.

Court : Supreme Court of India

Subject : Direct Taxation

Section 234B, which fall for consideration in this case, are reproduced below as they stood prior to the Finance Act, 2012: “209. Computation of advance tax. - (1) The amount of advance tax payable by an assessee in